Bitcoin rose for the first time in six days, climbing past $52,000 as bulls pushed prices higher in early Asia trading hours Monday.
In a rally that appeared to start around 22:00 UTC (6 p.m. ET) on Sunday, bitcoin (BTC) bounced off a seven-week low around $47,655, subsequently printing some of its largest hourly gains in two days.
The bellwether cryptocurrency was changing hands around $52,100 as of 2:16 UTC Monday, with buyer volume at the highest hourly levels since April 23.
On the technical side, bitcoin's relative strength index – an indicator used to gauge trend momentum – shows the cryptocurrency is attempting a daily timeframe bounce from levels of oversold at 30.00 on April 25.
Other major cryptocurrencies were also in the green, gaining an average 3.7% on the day. Uniswap's UNI token posted some of the biggest gains, rising more than 14% over the last 24 hours.
In traditional markets, Asian stock indexes were mixed and fairly muted with the Hang Seng Index up around 1.1%. The Nikkei 225 and Nikkei 300 were little changed.
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